Laserfiche WebLink
<br />Proposed Residential Development <br /> <br />Mr. Fogarty's loan was denied by a second bank. The issue is the significant up front costs with <br />no profit from TlRZ reimbursements projected until 2008- '09. <br /> <br />David Hawes and I will visit with Mr. Fogarty regarding some ideas to improve the situation. <br /> <br />Current ideas are: <br />ORe-thinking the phasing of the development. Going North to South (or some middle <br />variation) to reduce up front costs. <br />o Visit with City Council to discuss possibility of the City absorbing the trunk sewer and <br />lift station costs and having the TIRZ reimburse the City. <br /> <br />Development of Property West of SH 146 <br /> <br />The acreage involved in the suit <br />o No settlement agreement in sight <br />o Depositions taken <br />o Anticipate court ordered mediation <br /> <br />Acreage west of 16th Street (Powell Road) not in lawsuit <br />Russell Plank of National Property Holdings would like to meet and make a presentation <br />to the Board. It appears he will be building a warehouse for Frontier Logistics and may <br />be involved in some other future development. Eventually we would discuss TIRZ <br />participation for this area. <br /> <br />Town homes along Broadwav (Block 1261) adiacent to 1st Fairway and 3.58 Ac tract at <br />southwest comer of Wharton Weems & Broadway <br /> <br />I have assisted the proposed developer with some "out of the box" thinking on drainage issues to <br />improve potential lot yield. After some additional research with city staff I anticipate he will <br />want to address the Board regarding TIRZ participation. <br /> <br />Hawes Hill & Calderon <br /> <br />The firm has prepared an annual report for us to send to the Texas Comptroller's office and the <br />participating taxing jurisdictions. <br /> <br />All for now! <br /> <br />JJ/ml <br />